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ECB Threatens to Cut Off Cypriot Banks

By

Christopher Lawton,

Todd Buell and

James Marson

Updated March 21, 2013 1:48 p.m. ET

The European Central Bank stepped up pressure on Cyprus to seal a bailout agreement with the European Union and the International Monetary Fund by Monday, making further funding for the island's ailing banks contingent on a deal.

The ECB said it would extend only until Monday emergency funding that has kept the island's banks in operation while the bailout plan was being negotiated in recent months.

"Thereafter,...

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